Location: Hancock County, OH | Metro: Hancock County, OH
| Unit Size | Monthly FMR |
|---|---|
| Studio | $910 |
| 1 Bedroom | $1,000 |
| 2 Bedrooms | $1,310 |
| 3 Bedrooms | $1,700 |
| 4 Bedrooms | $1,930 |
| 5 Bedrooms | $2,239 |
| 6 Bedrooms | $2,508 |
| 7 Bedrooms | $2,709 |
| 8 Bedrooms | $2,844 |
U.S. Census Bureau data (2024)
The ZIP code 45816, located within Hancock County, OH, presents a unique scenario when compared against typical ZIP codes in the same county. The Fair Market Rent (FMR) for the metro area in fiscal year 2026 is set at $970. This figure is significantly higher than the market rent of $625 observed in ZIP 45816, indicating that this area offers lower rental rates relative to the broader county average.
The absence of a specified home value for ZIP 45816 suggests that there might be limited data available on property values, which could imply a less developed residential market or a focus on rental properties over homeownership. However, given the lower market rent compared to the FMR, it's reasonable to infer that property values here are likely below the county average, making it potentially attractive for low-income renters who qualify for housing assistance programs such as Section 8.
A key indicator for landlords and small-portfolio investors is the 15.2% renter share in ZIP 45816. This percentage is noteworthy because it aligns with the observation that areas with a high proportion of renters often benefit from Section 8 subsidies. In such cases, landlords can expect a steady stream of tenants who have their rent partially covered by the government, reducing the risk of vacancy and ensuring consistent income.
Comparatively, ZIP 45816 appears to be a value pocket within its metro, characterized by lower rental costs and a significant renter population. While it doesn't offer the premium sub-market status with high home values and rents, it stands out as a viable option for investors looking to capitalize on the demand for affordable rentals supported by government subsidies. The discrepancy between the local market rent and the higher FMR further emphasizes the potential for this ZIP to attract Section 8 participants, creating a stable investment environment.
Data Sources: FMR data from HUD (2027). Demographics from U.S. Census (2024).
About FMR: Fair Market Rent (FMR) is used to determine payment standards for the Section 8 Housing Choice Voucher program, initial renewal rents for some expiring project-based Section 8 contracts, and rent ceilings for HOME Investment Partnerships.